World Investment Advisors Sells 658 Shares of Everest Group, Ltd. $EG

World Investment Advisors lessened its stake in Everest Group, Ltd. (NYSE:EG) by 36.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,169 shares of the company’s stock after selling 658 shares during the quarter. World Investment Advisors’ holdings in Everest Group were worth $397,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SVB Wealth LLC bought a new stake in Everest Group during the first quarter worth $30,000. Zions Bancorporation National Association UT acquired a new position in shares of Everest Group during the 1st quarter worth about $34,000. Board of the Pension Protection Fund bought a new stake in shares of Everest Group in the 2nd quarter valued at about $34,000. WPG Advisers LLC acquired a new stake in Everest Group in the 1st quarter valued at about $37,000. Finally, Geneos Wealth Management Inc. grew its holdings in Everest Group by 98.9% during the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock worth $66,000 after purchasing an additional 90 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Down 0.3%

Shares of NYSE EG opened at $313.44 on Tuesday. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $392.78. The stock’s fifty day moving average is $342.50 and its 200 day moving average is $340.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $13.15 billion, a P/E ratio of 23.87, a PEG ratio of 0.25 and a beta of 0.48.

Everest Group (NYSE:EG) last released its earnings results on Monday, October 27th. The company reported $7.54 EPS for the quarter, missing the consensus estimate of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The firm had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the prior year, the business earned $11.80 earnings per share. Everest Group’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.6%. The ex-dividend date was Wednesday, September 3rd. Everest Group’s payout ratio is currently 60.93%.

Analyst Ratings Changes

Several research firms have issued reports on EG. Citigroup began coverage on Everest Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price objective on the stock. Wolfe Research upgraded Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 29th. UBS Group reduced their price objective on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a research report on Wednesday, July 9th. Wall Street Zen downgraded shares of Everest Group from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Wells Fargo & Company cut their target price on shares of Everest Group from $383.00 to $343.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Everest Group has an average rating of “Hold” and an average target price of $372.36.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director William F. Galtney, Jr. purchased 11,385 shares of the stock in a transaction dated Wednesday, October 29th. The stock was bought at an average price of $307.38 per share, with a total value of $3,499,521.30. Following the acquisition, the director owned 45,491 shares of the company’s stock, valued at approximately $13,983,023.58. This represents a 33.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Allan Levine bought 3,100 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was acquired at an average price of $306.08 per share, for a total transaction of $948,848.00. Following the transaction, the director owned 4,153 shares of the company’s stock, valued at approximately $1,271,150.24. The trade was a 294.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is owned by corporate insiders.

Everest Group Company Profile

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.